OPKO Health Raises $125 Million Against Mazdutide Royalties

Corporate Action

โดย Zacks Investment Research·

Summary · why it matters

OPKO Health secured $125 million of additional financing against mazdutide royalties, adding non-dilutive capital while keeping long-term participation in royalty growth in China. The company expanded its financing relationship with HealthCare Royalty, a KKR business, by issuing $125 million of additional senior secured notes backed by royalty interests from its mazdutide license agreement with Eli Lilly and Company, with the notes maturing in 2044. Total payments on the new financing are capped at 1.5 times the funded amount, giving OPKO defined economics while avoiding a full sale of its mazdutide royalty interest. The financing arrives as OPKO continues to fund multiple clinical programs, with research and development expenses of $33.2 million in the second quarter of 2026, up 9.3% year over year, and full-year R&D spending expected to remain between $125 million and $135 million. OPKO ended the second quarter with $314.4 million in cash, cash equivalents, marketable securities and restricted cash, and currently carries a Zacks Rank #3 (Hold).

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